A magnetic random access memory (MRAM) device uses magnetic tunnel junctions (MTJs) as the memory elements, where the MTJ is composed of at least two magnetic electrodes separated by a tunnel barrier. One of the electrodes has a magnetic moment whose direction is fixed, and the other electrode (known as the free or memory layer) has a moment whose direction is either parallel or anti-parallel to that of the fixed moment, so that the MTJ has two different states. These two states of the MTJ have significantly different resistance values for spin polarized tunneling current. When the MTJ element is placed between two wires or electrodes, a current can be passed between the electrodes to read the resistance state and/or to write (change) the state of the MTJ using spin transfer torques. The area of the MTJ may be tailored to match the respective technology node of the existing CMOS technology. As this area is shrunk, the energy barrier to rotation of the free layer with respect to the fixed layer from thermal fluctuations is diminished. This may be problematic if the electrodes are made of a material with an insufficiently high energy barrier.